Wind Power to the rescue

[xman]

4 hours ago, lol-lol said:

 

Jeremy the Hunt has just put 100k of his own money in to his reelection campaign.

 

I imagine on his income he would get 60% tax relief and any other losses are carried forward/back to other years through his many companies. He is, after all the Chancellor of the Exchequer and makes the rules....

[lol-lol]

26 minutes ago, xman said:

 

I imagine on his income he would get 60% tax relief and any other losses are carried forward/back to other years through his many companies. He is, after all the Chancellor of the Exchequer and makes the rules....

 

My bruver does tax for many high earners, some who get paid many times more than top UK politicians and there are many tax dodges, some which get plugged and some that remain open and get even wider.

 

The UK government did open up one nice one last year when they allowed £60K per year to go in to pension pots and scrapped the Life Time Allowance too.  His salary was a poultry £160k in 2022, not sure what it is now ie whether he got the 10.1% us other Civil Servant got in pension or salary which would take him to more like £176K pa but the £60K skim off but there are plenty of other schemes for the really high salaried...... https://www.theguardian.com/money/2012/apr/24/how-avoid-paying-tax-maximise-income  

 

It gets very messy particular when bonuses are paid out which is oft April at the start of a new tax year.  Lucky enough to have that problem myself last April which pushed ,me will in to 45% tax territory (and 2% NI to be paid as well), wiped out my personal allowance and HMRC told my 3 pension companies I was a 45% tax payer.  Took several months to re-align, some month where my income tax payment was negative even ie they paid me an amount back.

 

Hunt is not even 60 but he may be already getting some pension paid out from 55 as he has passed that age.  He gets massive income from his 7 luxury flats he rents out in Ocean village Southampton plus has monies from his other financial interests I full expect. 

 

Not sure where you get 60% tax relief from ?  47% is my best against the 45% tax rate and 2% NI using salary sacrifice in to pension pot.     

 

To get back on topic one of the best tax dodges is forestry land, much used for Scottish land I gather, stick a wind turbine on there and one is quids in.

   

Edited 4 March by lol-lol

[xman]

12 minutes ago, lol-lol said:

Not sure where you get 60% tax relief from ?  47% is my best against the 45% tax rate and 2% NI using salary sacrifice in to pension pot.     

 

If its funded through one of his companies, maybe set up for his campaign, then depending on how you add up.

 

45% income tax avoided

13.8% employers NI not paid

19 to 25% corporation tax saved

 

45+13.8+25 = 83.8

 

Plus expenses? Plus spouses salary? Plus use of home as office? Plus dog's salary (security) plus special provisions for people in his position that no-one is aware of......

 

Call me a cynic but have you seen the price of duck houses?

 

[lol-lol]

43 minutes ago, xman said:

If its funded through one of his companies, maybe set up for his campaign, then depending on how you add up.

45% income tax avoided

13.8% employers NI not paid

19 to 25% corporation tax saved

45+13.8+25 = 83.8

Plus expenses? Plus spouses salary? Plus use of home as office? Plus dog's salary (security) plus special provisions for people in his position that no-one is aware of......

Call me a cynic but have you seen the price of duck houses?

 

 

He was my MP for a while. Here he is getting his CBE in 2015.  His Duck pond below his picture.

I was forgetting the tax avoidance in the Employers NI which if his company he can add to the tax avoidance saving.  Thanks.

It is a very nice duck pond though.

 

Edited 4 March by lol-lol

[Ootohere]

The 'Worlds biggest floating wind farm off the Scottish (Aberdeenshire) coast approved'.

Good news story.

 

 (The Times runs a story on a wind farm that is not going ahead because of the Scottish Government delaying it or some such thing.

Nothing to do with Rishi though.  He never holds up anything.)

Edited Monday at 13:05 by Rooted

[Winston_Woof]

1 hour ago, Rooted said:

The 'Worlds biggest floating wind farm off the Scottish (Aberdeenshire) coast approved'.

Good news story.

 

 (The Times runs a story on a wind farm that is not going ahead because of the Scottish Government delaying it or some such thing.

Nothing to do with Rishi though.  He never holds up anything.)

If a floating windfarm capsized would the blades still turn?

[Ootohere]

Lets just go with the blades will lock and the tide sea will not be having them turning. 

 

They are tethered to the bottom and there are many many already operating and never heard of capsizes.  

My son & stepsons work on turbines onshore and offshore and floating ones. 

 

 

 

 

 

Edited Monday at 16:58 by Rooted

[Ootohere]

http://news.stv.tv/north/worlds-biggest-floating-wind-farm-given-go-ahead-in-north-sea-off-scotland